Nigerian banks and fintechs
Explore why fintech (financial technology) companies like Kuda, Opay, and PalmPay deliver banking via apps.
In this lesson
Nigerian banks and fintechs is part of What Is a Bank?. This preview shows how banking-basics connects to everyday family decisions such as earning, saving, spending choices, goals, approvals, or parent-guided money conversations inside Progress Penguin.
Think about this money choice
Imagine this situation: You want fast transfers and higher savings rates. GTBank offers both but requires branch visits. Kuda is app-only with higher rates.
How it works
Fintech (financial technology) companies like Kuda, Opay, and PalmPay deliver banking via apps. Faster and cheaper but no branches. Many are CBN-licensed.
Try a real-life example
Real-life money moment: Kuda: 10% annual interest. GTBank: 4%. You save 50000 in local currency for 1 year.
Activity preview
Match the money ideas
Use what you learned to complete this short challenge.
Quiz preview
A fintech is:
You want fast transfers and higher savings rates. GTBank offers both but requires branch visits. Kuda is app-only with higher rates. How do you choose?